Gaming and Leisure Properties, Inc. $GLPI Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC lifted its position in shares of Gaming and Leisure Properties, Inc. (NASDAQ:GLPI) by 89.0% during the 1st quarter, Holdings Channel.com reports. The fund owned 1,221,330 shares of the real estate investment trust’s stock after buying an additional 575,000 shares during the period. Renaissance Technologies LLC’s holdings in Gaming and Leisure Properties were worth $54,190,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of GLPI. LDR Capital Management LLC purchased a new position in shares of Gaming and Leisure Properties in the fourth quarter valued at $2,392,000. Sound Income Strategies LLC boosted its position in shares of Gaming and Leisure Properties by 11.7% in the 4th quarter. Sound Income Strategies LLC now owns 415,085 shares of the real estate investment trust’s stock worth $19,235,000 after buying an additional 43,501 shares in the last quarter. Bayhunt Capital LLC purchased a new stake in shares of Gaming and Leisure Properties in the 4th quarter worth about $14,811,000. GSA Capital Partners LLP boosted its position in shares of Gaming and Leisure Properties by 233.4% in the 4th quarter. GSA Capital Partners LLP now owns 35,715 shares of the real estate investment trust’s stock worth $1,596,000 after buying an additional 25,002 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Gaming and Leisure Properties by 10.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 498,592 shares of the real estate investment trust’s stock valued at $22,147,000 after acquiring an additional 46,497 shares during the last quarter. Institutional investors and hedge funds own 91.14% of the company’s stock.

Insider Buying and Selling

In other Gaming and Leisure Properties news, Director E Scott Urdang sold 3,000 shares of Gaming and Leisure Properties stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $48.32, for a total value of $144,960.00. Following the completion of the sale, the director owned 127,429 shares in the company, valued at $6,157,369.28. The trade was a 2.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.11% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Stifel Nicolaus set a $50.00 target price on shares of Gaming and Leisure Properties in a report on Friday, April 24th. Morgan Stanley upped their price target on shares of Gaming and Leisure Properties from $53.00 to $55.00 and gave the company an “equal weight” rating in a report on Monday, July 6th. Wells Fargo & Company lowered their price target on shares of Gaming and Leisure Properties from $48.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 15th. JPMorgan Chase & Co. dropped their price objective on shares of Gaming and Leisure Properties from $53.00 to $51.00 and set an “overweight” rating for the company in a research note on Tuesday, June 30th. Finally, Weiss Ratings downgraded Gaming and Leisure Properties from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, June 17th. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Gaming and Leisure Properties presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.27.

Gaming and Leisure Properties Price Performance

GLPI stock opened at $45.17 on Monday. Gaming and Leisure Properties, Inc. has a 52-week low of $41.17 and a 52-week high of $49.95. The stock’s fifty day simple moving average is $45.67 and its 200-day simple moving average is $46.25. The company has a quick ratio of 6.29, a current ratio of 6.29 and a debt-to-equity ratio of 1.62. The stock has a market capitalization of $12.80 billion, a price-to-earnings ratio of 14.34, a price-to-earnings-growth ratio of 2.00 and a beta of 0.66.

Gaming and Leisure Properties (NASDAQ:GLPI) last released its earnings results on Thursday, April 23rd. The real estate investment trust reported $0.82 EPS for the quarter, beating the consensus estimate of $0.76 by $0.06. Gaming and Leisure Properties had a return on equity of 18.06% and a net margin of 55.56%.The firm had revenue of $419.99 million during the quarter, compared to analyst estimates of $417.15 million. During the same period in the prior year, the firm posted $0.96 earnings per share. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. Equities research analysts expect that Gaming and Leisure Properties, Inc. will post 4.01 EPS for the current year.

Gaming and Leisure Properties Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 7.3%. The ex-dividend date of this dividend was Friday, June 12th. This is a positive change from Gaming and Leisure Properties’s previous quarterly dividend of $0.78. Gaming and Leisure Properties’s dividend payout ratio is 104.13%.

Gaming and Leisure Properties Company Profile

Gaming and Leisure Properties, Inc (NASDAQ: GLPI) is a real estate investment trust (REIT) specializing in the ownership and management of gaming and entertainment properties. Established in 2013 as a spin-off from Penn National Gaming, the company was designed to acquire and hold real estate assets associated with casinos, racetracks and other gaming facilities, while leasing those assets back to operating partners under long-term, triple-net lease agreements.

The company’s core activities involve identifying attractive gaming real estate, structuring lease agreements that align tenant incentives with property performance, and actively managing its portfolio to enhance asset value.